Deutsche Bank AG Sells 23,715 Shares of First Industrial Realty Trust, Inc. (NYSE:FR)

Key Points

• Deutsche Bank AG reduced its stake in First Industrial Realty Trust by 1.3%, owning approximately $100 million in shares after selling over 23,000 shares in the first quarter.
• First Industrial Realty Trust reported earnings of $0.76 per share, exceeding analyst expectations and showing a 9.8% annual revenue growth with revenues reaching $180.16 million for the quarter.
• Wall Street analysts hold a consensus rating of "Hold" for First Industrial Realty Trust, with target prices ranging from $51 to $58 per share.

Deutsche Bank AG lowered its position in First Industrial Realty Trust, Inc. (NYSE:FR - Free Report) by 1.3% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,854,913 shares of the real estate investment trust's stock after selling 23,715 shares during the period. Deutsche Bank AG owned 1.40% of First Industrial Realty Trust worth $100,091,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in FR. Artemis Investment Management LLP acquired a new position in First Industrial Realty Trust during the first quarter valued at approximately $40,294,000. Rush Island Management LP grew its holdings in First Industrial Realty Trust by 50.9% during the fourth quarter. Rush Island Management LP now owns 1,640,530 shares of the real estate investment trust's stock valued at $82,240,000 after purchasing an additional 553,567 shares during the last quarter. Argosy Lionbridge Management LLC acquired a new position in First Industrial Realty Trust during the fourth quarter valued at approximately $26,447,000. Northern Trust Corp grew its holdings in First Industrial Realty Trust by 41.2% during the fourth quarter. Northern Trust Corp now owns 1,554,330 shares of the real estate investment trust's stock valued at $77,919,000 after purchasing an additional 453,465 shares during the last quarter. Finally, Landmark Investment Partners L.P. acquired a new position in First Industrial Realty Trust during the fourth quarter valued at approximately $16,478,000. Institutional investors and hedge funds own 99.85% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on FR shares. Royal Bank Of Canada lowered their price target on First Industrial Realty Trust from $62.00 to $58.00 and set an "outperform" rating on the stock in a report on Tuesday, April 29th. Truist Financial lowered their price target on First Industrial Realty Trust from $60.00 to $55.00 and set a "buy" rating on the stock in a report on Monday, May 5th. The Goldman Sachs Group lowered their price target on First Industrial Realty Trust from $59.00 to $51.00 and set a "neutral" rating on the stock in a report on Tuesday, April 22nd. JPMorgan Chase & Co. lowered their price target on First Industrial Realty Trust from $63.00 to $57.00 and set an "overweight" rating on the stock in a report on Monday, April 28th. Finally, Wall Street Zen raised First Industrial Realty Trust from a "sell" rating to a "hold" rating in a research report on Saturday, July 12th. Seven research analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $55.91.

First Industrial Realty Trust Price Performance

Shares of FR stock traded up $0.72 during mid-day trading on Tuesday, reaching $48.30. The company's stock had a trading volume of 484,554 shares, compared to its average volume of 1,219,785. First Industrial Realty Trust, Inc. has a 1-year low of $40.31 and a 1-year high of $58.17. The company has a market cap of $6.40 billion, a P/E ratio of 23.56 and a beta of 1.04. The company has a debt-to-equity ratio of 0.88, a quick ratio of 1.04 and a current ratio of 1.04. The firm's 50-day moving average is $49.14 and its two-hundred day moving average is $50.82.

First Industrial Realty Trust (NYSE:FR - Get Free Report) last announced its quarterly earnings data on Wednesday, July 16th. The real estate investment trust reported $0.76 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.72 by $0.04. First Industrial Realty Trust had a net margin of 38.70% and a return on equity of 9.92%. The company had revenue of $180.16 million during the quarter, compared to analysts' expectations of $176.46 million. During the same quarter in the prior year, the company posted $0.66 EPS. The business's revenue was up 9.8% on a year-over-year basis. On average, research analysts predict that First Industrial Realty Trust, Inc. will post 2.89 earnings per share for the current year.

First Industrial Realty Trust Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 20th. Stockholders of record on Tuesday, September 30th will be paid a $0.445 dividend. This represents a $1.78 dividend on an annualized basis and a dividend yield of 3.7%. First Industrial Realty Trust's dividend payout ratio is 86.83%.

First Industrial Realty Trust Profile

First Industrial Realty Trust, Inc NYSE: FR is a leading U.S.-only owner, operator, developer and acquirer of logistics properties. Through our fully integrated operating and investing platform, we provide high quality facilities and industry-leading customer service to multinational corporations and regional firms that are essential for their supply chains.